BidX1, the digital property investment platform, has launched a new catalogue of more than 200 Irish properties, all of which will be offered via online auction on 19th March.
The full catalogue can be viewed on the BidX1 platform, where users can filter by location or price-point to find properties that suit their requirements.
In a survey of their Irish database conducted this month, BidX1 found that 89% of respondents intended to purchase a property this year. More than 70% of those were seeking a house or apartment, with the most popular locations being Dublin, Cork, Wexford and Galway – followed by Wicklow, Kerry and Kildare.
“It’s notable that such a high proportion of those surveyed – almost 90% – intend to buy property this year”, said Gillian Earley, the firm’s Divisional Director.
“We also found that 44% of respondents would buy without a physical viewing. This underlines the importance of technology for property agents – we have been running fully online sales since 2015 so virtual viewings are a key aspect of our offering for buyers.”
BidX1 provides a range of virtual viewing options to help buyers make early assessments about properties. These include self-guided tours, allowing users to virtually tour properties themselves at any time, as well as innovative 3D walk-throughs with a BidX1 agent. In this case, the agent brings potential buyers on a live virtual tour, allowing them to discuss the property with an expert in real-time as they view it.
“Buyers want to be able to ask questions and engage with a professional. Our 3D tours are fantastic because they combine technology with a personal touch”, Earley said.
The catalogue has already attracted significant interest, including 260,000 page views from viewers in more than 60 countries.
“Outside of Ireland, the top locations are the USA, Australia, UK and Canada, perhaps indicative of a surge of diaspora now looking to move home”, Earley noted.
“We’ve also had 450 page views from Singapore, for example, so the range of interest in Irish properties is very broad.”
BidX1 allows users to view and download the legal pack for each property during the marketing period, and the firm has reported 22,000 downloads in just 7 days.
Anyone wishing to bid on a property will need to register on the platform before the auction, providing proof of identity and proof of address, as well as a deposit – the amount of which is based on the guide price listed on the property.
All of the bidding will be shown live on the website, meaning that viewers can watch the auction in real-time on the day of the sale – although bidders will remain anonymous, identified only by a bidding number.
“Potential purchasers can register and bid on our website, or through the BidX1 App. They can also do some practice runs using our demo feature, which can be really helpful for first-timers”, said Earley.
“Our sales are fully digital but our teams are available to answer any questions about the properties or assist with registration.”
BidX1 has pioneered an innovative approach to property sales, allowing buyers to browse investment opportunities across five markets – Spain, Cyprus, South Africa, the UK and Ireland – and complete the full transaction online, using technology developed in Dublin.
Last year, BidX1 secured funding from Enterprise Ireland, following a decision during the first Covid-19 lockdown to open its digital platform to other property agents through a Joint Agency model.
Enterprise Ireland is supporting BidX1 through its Agile Innovation Fund, and has made almost €500,000 available to the company, both to drive this partnership initiative and to enhance BidX1’s digital platform in advance of further international growth.
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